Lessons for Health, Beauty & Wellness Companies [Part 3]: When to Consider Acquiring a Distressed Company
A policyholder's ability to assign its rights to insurance proceeds can be an effective tool of risk mitigation. However, insurance policies often incorporate assignment clauses, which require policyholders to obtain their...more
Key Points: The buyer of a home was not considered a mortgagee under a homeowners insurance policy when the proceeds from the sale were used to pay off the mortgage but there was no evidence that the buyer assumed any legal...more
You’ll find some notable decisions in our May Insurance Update. Appeals over pandemic-related business interruption losses have made their way up to state high courts. And so far, these courts have continued the trend...more
A condition precedent to receiving coverage under almost any insurer’s homeowner’s policy is an obligation for the insured to provide reasonably “prompt” notice of any loss. However, most policies never define what...more
• The Florida Senate recently passed assignment of benefits (AOB) legislation that is expected to be signed by Gov. Ron DeSantis. The bill is intended to bring much needed reform to the abused and litigious practice of...more
Assignment of Benefit Scams - According to the Coalition Against Insurance Fraud, about $80 billion is stolen every year by unscrupulous companies supposedly acting in the best interests of U.S consumers during critical...more
Because there can be more than one individual or entity that holds an interest in property, a property insurance policy is generally drafted in such a way to identify and protect all the individuals or entities who have an...more
In a recent opinion, Judge Schmehl of the Eastern District of Pennsylvania denied a forced placed insurer’s Motion to Dismiss a suit brought by the assignee of a homeowner for water damage to the home. In Williams v....more